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Friday, July 9, 2010

Mortgage defaulters beware! - expressindia.com - 07 Jul 2010

Credit Information Bureau (India) Ltd (Cibil) today said it will come out with a database on mortgage defaulters and is also looking at expanding client base to telecom and insurance companies. "We will come up with a database of mortgage defaulters very soon," Cibil Managing Director Arun Thukral told reporters after announcing the launch of a database of fraudulent activities here.

Cibil, a repository for credit information, is also looking at providing data to telecom and insurance companies which would help them retain customers.

"We are looking at expanding our database. Giving data to telecom and general insurance companies are right now what we are looking to. Also we would come up with data for micro finance institutions (MFIs)," Thukral said.

The database for MFIs is aimed at providing information mainly about multiple lending to rural consumer borrowers, he said, adding that MFIs would gradually become main players in the domestic lending space.

Cibil, a joint venture of TransUnion, banks and financial institutions, today announced the launch of Cibil Detect – a nationwide database of reported fraudulent and suspect activities.

The repository would provide data on high risk incidents in the credit sector of India. It would also provide details of individuals who have committed banking-related frauds in the past.

"Banks and financial institutions have been reporting rising cases of frauds and spurious incidences. As more and more banks start reporting fraud cases to Cibil, the database would increase," Thukral added.

1 comment:

Hello Sir,I am facing a lot of problem regarding which i need some expert guidance.

I Ravinder Kumar Budhiraja and my DOB is 09-10-1981 . I have never take credit card from any bank but when apply a loan from bank bank told me that ur name is in CIBIL .and your a/m is 96270 is pending . But I know that I have never ever receive credit card from any bank .So kindly please let me know that how to know the name of the bank it is and to whome should i contact for ..? I have contacted the CIBIl by sending them lots of Email but I don’t think so that they people are in the mood for giving me any support, they just asking me the money and when I raised the issue at Consumer Court http://www.consumercourt.in/personal-loan/12006-defaulter-list-cibil.html they just told that I have a strong reason to drag the Bank to the Consumer Forum .If any one have any idea or faced such issue in past or facing such issue please contact me I need some help in Removing my name from defaulter list and form a group to fight against such agency who are forcefully taking our hard earned money.